Canada added 418,500 jobs in July as economies reopen

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Canada’s job market continued on its path to recovery from the effects of COVID-19 by adding 418,500 jobs in July, beating expectations of 380,000.

New data from Statistics Canada show the unemployment rate fell to 10.9 per cent, from 12.3 per cent in June. But there’s still a long road ahead to get back to the 5.6 per cent we saw in February, before the pandemic considering we’re 1.3 million jobs short of the February level.

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Original Article Source Credits: Yahoo Finance , https://ca.finance.yahoo.com/

Article Written By: Jessy Bains

Original Article Posted on: August 7, 2020

Link to Original Article: https://ca.finance.yahoo.com/news/canada-added-418500-jobs-in-july-as-economies-reopen-134826186.html